DGCX has also announced that its list of approved producers has expanded with the addition of two more rebar manufacturers: Turkish rebar producer Kroman Celik Sanayi A.S and UAE-based Emirates Iron and Steel Company.
As a result, the total number of approved mills has increased to eight. The mills previously approved by DGCX include Izmir Demir Celik Sanayi A.S, Ekinciler Demir Celik A.S, Diler Demir Celik End. ve Tic A.S, Al Tuwairqi Group, Sabic Steel and Qatar Steel.
In a statement on the issue, DGCX said, "The contract provides the region's steel community with a cost-effective tool to hedge risk arising from extremely volatile prices. In addition, it offers an alternate and attractive avenue for investors with exposure to either steel equities or the physical market."